"The company has acquired all the compulsorily convertible debentures (CCDs) held by Aller River Limited (representing 14.47 per cent holding on a fully diluted basis) in Pallazzio Hotels & Leisure Limited, a wholly-owned subsidiary of the company," The Phoenix Mills said in a regulatory filing.
Upon the completion of conversion of the CCDs at a later date, the company's equity holding in Pallazzio Hotels & Leisure Limited will increase from 58.51 per cent to 72.98 per cent.
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